Kenyan Parliamentary Committee Calls for Halt to Worldcoin Cryptocurrency Initiative
The Kenyan parliamentary committee has recommended the immediate suspension of the Worldcoin cryptocurrency initiative. The decision comes amid concerns about user privacy and the need for proper regulations. The initiative, led by Tools for Humanity and co-founded by OpenAI’s CEO Sam Altman, has been a subject of debate in Kenya. The government had already paused the project in August due to controversies surrounding its iris scanning technology for digital identification. However, Worldcoin’s virtual presence remains online despite the suspension.
Kenya Proposes Blacklisting Worldcoin IP Addresses
The Kenyan parliamentary group has also called for the intervention of the Communications Authority of Kenya to halt the virtual operations of Tools for Humanity Corp and its German counterpart, Tools for Humanity GmbH Germany. They have further urged for the blacklisting of related IP addresses to ensure a complete internet blackout. Additionally, they emphasize the importance of discontinuing on-ground activities until clear regulations for virtual assets and providers are established.
Urgent Call for Cryptocurrency Regulation Intensifies
The parliamentary panel’s investigation revealed concerns about Worldcoin’s strategy of acquiring user consent through monetary incentives, which raised questions about its ethical implications. Furthermore, there was no age-verification mechanism in place during the iris scan process, posing risks for involving minors. The committee has called on various government sectors to expedite the formulation of laws specifically designed for crypto assets and cryptocurrency service providers.
Hot Take: Kenya Takes Firm Stance Against Worldcoin
Kenya’s parliamentary committee has taken a decisive stance against the Worldcoin cryptocurrency initiative, citing concerns over user privacy and inadequate regulations. The committee recommends an immediate halt to the project and calls for blacklisting related IP addresses to ensure a complete internet blackout. This highlights the urgent need for clear regulatory frameworks for virtual assets and providers in Kenya. It also raises broader questions about the ethical implications of Worldcoin’s user acquisition strategy and its lack of age-verification measures. The committee’s recommendations will be discussed in the National Assembly, signaling a growing call for cryptocurrency regulation in the country.
By
By
By
By
By